Commodities
India's Gold Demand Dips 6% Amid Seasonal Slump
India's gold demand fell 6% year-on-year to 131.4 tonnes in Q2 2026, according to the World Gold Council's latest report.
The decline was attributed to subdued seasonal demand, higher customs duty, and a shift in consumer sentiment, particularly after Prime Minister Narendra Modi urged citizens to curb non-essential gold purchases in May.
Jewellery consumption saw the sharpest decline, falling 15% year-on-year to 75.1 tonnes.